Ryanair in Aer Lingus ultimatum to government

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

Michael O'Leary, Ryanair's chief executive, cranked up pressure in his 750 million hostile takeover bid for the former state-owned airline signalling Ryanair will walk away if Dublin backs an EU competition investigation not Ryanair's bid.

Despite Ryanair having already racked up a 29% stake in Aer Lingus from an earlier abortive takeover bid, Transport Minister Noel Dempsey holds the key to the battle as the Irish state continues to hold the 25% stake it retained at Aer Lingus's flotation.

Calling for an urgent meeting with Dempsey, O'Leary said: "We are offering 750 million in cash and we have committed to create 1000 jobs in Aer Lingus. We believe 2009 will be a bleak time for Aer Lingus and its shareholders with substantial losses as well as a significant hole in its pension schemes. However, we don't intend to waste our time ... if Aer Lingus shareholders do not want the only merger offer currently available to them to secure Aer Lingus's future."

A successful takeover of Aer Lingus would transform Ryanair, bringing it effective control of the Irish airline industry and for the first time access to take-off and landing slots at Heathrow and a potentially lucrative long-haul business to the US.